Precedent Wealth Partners LLC Invests $389,000 in MDU Resources Group, Inc. (NYSE:MDU)

Precedent Wealth Partners LLC acquired a new stake in MDU Resources Group, Inc. (NYSE:MDU) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,175 shares of the utilities provider’s stock, valued at approximately $389,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its stake in shares of MDU Resources Group by 6.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 87,051 shares of the utilities provider’s stock valued at $1,724,000 after purchasing an additional 5,206 shares during the period. Los Angeles Capital Management LLC bought a new stake in MDU Resources Group in the first quarter valued at about $208,000. Ballentine Partners LLC acquired a new position in MDU Resources Group in the first quarter valued at about $207,000. First PREMIER Bank boosted its holdings in MDU Resources Group by 5.0% during the first quarter. First PREMIER Bank now owns 31,757 shares of the utilities provider’s stock worth $801,000 after buying an additional 1,520 shares during the last quarter. Finally, Register Financial Advisors LLC grew its position in shares of MDU Resources Group by 6.9% during the 1st quarter. Register Financial Advisors LLC now owns 140,782 shares of the utilities provider’s stock worth $3,548,000 after buying an additional 9,030 shares during the period. 71.44% of the stock is owned by institutional investors.

MDU Resources Group Stock Performance

Shares of MDU Resources Group stock opened at $30.29 on Friday. The stock’s fifty day simple moving average is $26.39 and its 200 day simple moving average is $25.60. The company has a current ratio of 1.22, a quick ratio of 1.15 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $6.18 billion, a PE ratio of 12.94, a PEG ratio of 2.66 and a beta of 0.77. MDU Resources Group, Inc. has a 12 month low of $18.04 and a 12 month high of $30.52.

MDU Resources Group (NYSE:MDU) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. MDU Resources Group had a return on equity of 11.29% and a net margin of 9.25%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm posted $0.29 earnings per share. MDU Resources Group’s revenue was down 4.0% compared to the same quarter last year. On average, research analysts predict that MDU Resources Group, Inc. will post 1.58 EPS for the current year.

MDU Resources Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Thursday, September 12th were issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Thursday, September 12th. This is a boost from MDU Resources Group’s previous quarterly dividend of $0.13. MDU Resources Group’s dividend payout ratio is 22.22%.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on shares of MDU Resources Group in a research note on Saturday, October 12th. They set a “hold” rating on the stock.

MDU Resources Group Profile

MDU Resources Group, Inc engages in the regulated energy delivery, and construction materials and services businesses in the United States. It operates through four segments: Electric, Natural Gas Distribution, Pipeline, and Construction Services. The Electric segment generates, transmits, and distributes electricity for residential, commercial, industrial, and municipal customers in Montana, North Dakota, South Dakota, and Wyoming; and operates 3,400 miles of transmission lines, 4,800 miles of distribution lines, and 82 transmission and 298 distribution substations.